04/27/2006 11:00PM

Magna seeks arbitration

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Magna Entertainment Corp. will seek to resolve its stalled negotiations with the Florida Horsemen's Benevolent and Protective Association over anticipated slot revenues at Magna's Gulfstream Park through binding arbitration, Magna announced Friday.

Magna and the Florida horsemen's group have been in negotiations over a contract since the beginning of this year, but officials for the horsemen have said recently that the two sides remain well apart on the division of revenues that will go to the racetrack and to purses. Magna's statement also said that the company intends to continue to negotiate with the the horsemen while in the arbitration process.

Officials for the horsemen's group could not be reached for comment Friday.